Material management is a scientific technique, concerned with Planning, Organizing & Control of flow of materials, from their initial purchase to destination.
Inventory generally refers to the materials in stock. It is also called the idle resource of an enterprise. Inventories represent those items, which are either stocked for sale or they are in the process of manufacturing or they are in the form of materials, which are yet to be utilized.
Stores management is part of the overall function of materials management. In order, therefore, to understand the function of the former it is desirable to have a clear understanding of what materials management stands for.
According to Alford and Beatty “storekeeping is that aspect of material control concerned with the physical storage of goods.” In other words, storekeeping relates to art of preserving raw materials, work-in-progress and finished goods in the stores.
Stores management is part of the overall function of materials management. In order, therefore, to understand the function of the former it is desirable to have a clear understanding of what materials management stands for.
According to Alford and Beatty “storekeeping is that aspect of material control concerned with the physical storage of goods.” In other words, storekeeping relates to art of preserving raw materials, work-in-progress and finished goods in the stores.
Materials management is a core supply chain function and includes supply chain planning and supply chain execution capabilities. Specifically, materials management is the capability firms use to plan total material requirements.
Purchasing Management
Principles of Purchasing Management OR (8 R'S)
Functions of Purchasing Management
Negotiating
Value Engineering
VALUE ANALYSIS
Receive Purchase Request
Supplier selection
Payment Authorization
Market research and Information
Selection of Source
Determination of Price and Availability
Follow Up
Codification of materials can also be termed as the identification of materials. This deals with uniquely identifying each item in the inventory. It is a simple concept. For a good quality control system a unique identification is a pre-requisite.
Materials management is a core supply chain function and includes supply chain planning and supply chain execution capabilities. Specifically, materials management is the capability firms use to plan total material requirements.
Purchasing Management
Principles of Purchasing Management OR (8 R'S)
Functions of Purchasing Management
Negotiating
Value Engineering
VALUE ANALYSIS
Receive Purchase Request
Supplier selection
Payment Authorization
Market research and Information
Selection of Source
Determination of Price and Availability
Follow Up
Codification of materials can also be termed as the identification of materials. This deals with uniquely identifying each item in the inventory. It is a simple concept. For a good quality control system a unique identification is a pre-requisite.
NURSING MANAGEMENT AND EDUCATION
INVENTORY CONTROL AND PROCUREMENT OF HOSPITAL SUPPLIES, THEIR MAINTENANCE AND KEEPING THE STOCK UP TO DATE IS ONE OF THE BASIC DUTIES OF A NURSE. KNOWING ABOUT THE PRINCIPLES AND TECHNIQUES HELPS IN EFFECTIVE MANAGEMENT OF HOSPITAL SUPPLIES AND EQUIPMENT IN THE WARD.
Study on Inventory Management at Reid & Taylor (India) LtdProjects Kart
Inventory is a list of goods and materials, or those goods and materials themselves, held available in stock by a business. Inventory management is primarily about specifying the size and placement of stocked goods. Inventory management is required at different locations within a facility or within multiple locations of a supply network to protect the regular and planned course of production against the random disturbance of running out of materials or goods. The scope of inventory management also concerns the fine lines between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space for inventory, quality management, replenishment, returns and defective goods and demand forecasting.
Companies that optimize their inventory reduce inventory items and stock levels, avoid associated carrying costs and obsolescence write-downs. Want to know the best practices to optimize your inventory, check the presentation-
NO1 Uk best vashikaran specialist in delhi vashikaran baba near me online vas...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
About
Indigenized remote control interface card suitable for MAFI system CCR equipment. Compatible for IDM8000 CCR. Backplane mounted serial and TCP/Ethernet communication module for CCR remote access. IDM 8000 CCR remote control on serial and TCP protocol.
• Remote control: Parallel or serial interface.
• Compatible with MAFI CCR system.
• Compatible with IDM8000 CCR.
• Compatible with Backplane mount serial communication.
• Compatible with commercial and Defence aviation CCR system.
• Remote control system for accessing CCR and allied system over serial or TCP.
• Indigenized local Support/presence in India.
• Easy in configuration using DIP switches.
Technical Specifications
Indigenized remote control interface card suitable for MAFI system CCR equipment. Compatible for IDM8000 CCR. Backplane mounted serial and TCP/Ethernet communication module for CCR remote access. IDM 8000 CCR remote control on serial and TCP protocol.
Key Features
Indigenized remote control interface card suitable for MAFI system CCR equipment. Compatible for IDM8000 CCR. Backplane mounted serial and TCP/Ethernet communication module for CCR remote access. IDM 8000 CCR remote control on serial and TCP protocol.
• Remote control: Parallel or serial interface
• Compatible with MAFI CCR system
• Copatiable with IDM8000 CCR
• Compatible with Backplane mount serial communication.
• Compatible with commercial and Defence aviation CCR system.
• Remote control system for accessing CCR and allied system over serial or TCP.
• Indigenized local Support/presence in India.
Application
• Remote control: Parallel or serial interface.
• Compatible with MAFI CCR system.
• Compatible with IDM8000 CCR.
• Compatible with Backplane mount serial communication.
• Compatible with commercial and Defence aviation CCR system.
• Remote control system for accessing CCR and allied system over serial or TCP.
• Indigenized local Support/presence in India.
• Easy in configuration using DIP switches.
TECHNICAL TRAINING MANUAL GENERAL FAMILIARIZATION COURSEDuvanRamosGarzon1
AIRCRAFT GENERAL
The Single Aisle is the most advanced family aircraft in service today, with fly-by-wire flight controls.
The A318, A319, A320 and A321 are twin-engine subsonic medium range aircraft.
The family offers a choice of engines
Water scarcity is the lack of fresh water resources to meet the standard water demand. There are two type of water scarcity. One is physical. The other is economic water scarcity.
Event Management System Vb Net Project Report.pdfKamal Acharya
In present era, the scopes of information technology growing with a very fast .We do not see any are untouched from this industry. The scope of information technology has become wider includes: Business and industry. Household Business, Communication, Education, Entertainment, Science, Medicine, Engineering, Distance Learning, Weather Forecasting. Carrier Searching and so on.
My project named “Event Management System” is software that store and maintained all events coordinated in college. It also helpful to print related reports. My project will help to record the events coordinated by faculties with their Name, Event subject, date & details in an efficient & effective ways.
In my system we have to make a system by which a user can record all events coordinated by a particular faculty. In our proposed system some more featured are added which differs it from the existing system such as security.
Vaccine management system project report documentation..pdfKamal Acharya
The Division of Vaccine and Immunization is facing increasing difficulty monitoring vaccines and other commodities distribution once they have been distributed from the national stores. With the introduction of new vaccines, more challenges have been anticipated with this additions posing serious threat to the already over strained vaccine supply chain system in Kenya.
Forklift Classes Overview by Intella PartsIntella Parts
Discover the different forklift classes and their specific applications. Learn how to choose the right forklift for your needs to ensure safety, efficiency, and compliance in your operations.
For more technical information, visit our website https://intellaparts.com
Explore the innovative world of trenchless pipe repair with our comprehensive guide, "The Benefits and Techniques of Trenchless Pipe Repair." This document delves into the modern methods of repairing underground pipes without the need for extensive excavation, highlighting the numerous advantages and the latest techniques used in the industry.
Learn about the cost savings, reduced environmental impact, and minimal disruption associated with trenchless technology. Discover detailed explanations of popular techniques such as pipe bursting, cured-in-place pipe (CIPP) lining, and directional drilling. Understand how these methods can be applied to various types of infrastructure, from residential plumbing to large-scale municipal systems.
Ideal for homeowners, contractors, engineers, and anyone interested in modern plumbing solutions, this guide provides valuable insights into why trenchless pipe repair is becoming the preferred choice for pipe rehabilitation. Stay informed about the latest advancements and best practices in the field.
2. CONTENTS -
MATERIALS MANAGEMENT
FUNCTIONS :
Standardization
Simplification
Purchasing
INVENTORY CONTROL :
Static & Dynamic models
Selective Control
Inventory control under constrains
Store functions & records
Spares parts and in- process inventory
Fundamental of supply chain management
3. It is concerned with planning, organizing and
controlling the flow of materials from their initial
purchase through internal operations to the service
point through distribution.
OR
Material management is a scientific technique,
concerned with Planning, Organizing & Control of
flow of materials, from their initial purchase to
destination.
4. AIM OF MATERIAL MANAGEMENT
To get:
1. The Right quality
2. Right quantity of supplies
3. At the Right time
4. At the Right place
5. For the Right cost
5. PURPOSE OF MATERIAL MANAGEMENT
•To gain economy in purchasing
•To satisfy the demand during period of replenishment
•To carry reserve stock to avoid stock out
•To stabilize fluctuations in consumption
•To provide reasonable level of client services
6. The functions of materials management
can be categorized in the following ways:
(as shown in Fig.)
1. Material Planning and Control
2. Purchasing
3. Stores Management
4. Inventory Control or Management
5. Standardization
6. Simplification
7. Value Analysis
8. Ergonomics
9. Just-in-Time (JIT)
8. 1.Materials planning and control: Based on the sales forecast
and production plans, the materials planning and control is done.
This involves estimating the individual requirements of parts,
preparing materials budget, forecasting the levels of inventories,
scheduling the orders and monitoring the performance in relation
to production and sales.
2.Purchasing: This includes selection of sources of supply
finalization in terms of purchase, placement of purchase orders,
follow-up, maintenance of smooth relations with suppliers,
approval of payments to suppliers, evaluating and rating
suppliers.
3.Stores management or management: This involves physical
control of materials, preservation of stores, efficient handling,
maintenance of stores records, proper location and stocking etc.
A store plays a vital role in the operations of a company.
9. 4. Inventory control or management: Inventory generally refers
to the materials in stock. It is also called the idle resource of an
enterprise. Inventories represent those items, which are either
stocked for sale or they are in the process of manufacturing or
they are in the form of materials, which are yet to be utilized.
5. Other related activities
(a) 3S
(i) Standardization: Standardization means producing maximum
variety of products from the minimum variety of materials, parts,
tools and processes. It is the process of establishing standards or
units of measure by which extent, quality, quantity, value,
performance etc. may be compared and measured.
(ii) Simplification: It is a process of product analysis through
which unnecessary varieties and designs are eliminated.
In simple words “It is the process of reducing variety of a product
by limiting product range, design or type of material.”
10. (iii) Specifications: It refers to a precise statement
that formulizes the requirements of the customer. It
may relate to a product, process or a service.
(b) Value analysis: Value analysis is concerned with
the costs added due to inefficient or unnecessary
specifications and features. It makes its contribution
in the last stage of product cycle, namely, the
maturity stage.
(c) Ergonomics (Human Engineering): The human
factors or human engineering is concerned with man-
machine system.
11. STANDARDIZATION :
Standardization means producing maximum variety
of products from the minimum variety of materials,
parts, tools and processes. It is the process of
establishing standards or units of measure by which
extent, quality, quantity, value, performance etc.,
may be compared and measured.
12. Advantages of Standardization
1. Better quality products.
2. Better methods and tooling.
3. Better utilization of manpower and equipment.
4. Accurate delivery dates.
5. Better services of production control, stock control,
purchasing, etc.
6. Increased margin of profit.
7. Better product delivery.
8. Easy availability of sales part.
9. Less sales pressure of after-sales services.
13. 10. Better inspection and quality control is possible.
11. Quality standards can be defined more clearly.
12. Operators become familiar with the work and
produce jobs of consistent quality.
13. Work study section is benefited with efficient break
down of operations and effective work measurement.
14. Costing can obtain better control by installing
standard costing.
15. Reduced reductions and scrap.
16. Helps supervisors to run his department efficiently
and effectively
14. Disadvantages of Standardization
1. Reduction in choice because of reduced variety and
consequently loss of business or customer.
2. Standard once set, resist change and thus
standardization may become an obstacle to progress.
3. It tends to favour only large companies.
4. It becomes very difficult to introduce new models
because of less flexible production facilities and due to
high cost of specialized production equipment.
15. SIMPLIFICATION :
Simplification is a process of product analysis
through which unnecessary varieties and designs
are eliminated.
In simple words “It is the process of reducing
variety of a product by limiting product range,
design or type of material.”
Simplification offers boost to standardization.
16. EXAMPLE
Let us understand it by an example:
The technology for color TV is available to its
manufacturers. They can manufacture TV set of any
size from palm size to big-screen. But normally, 14",
15", 16", 18", etc., are the fixed sizes. Why not to
have 14.01", 14.02". 14.03"..., as the variety to a
customer. The answer is simplification in marketing,
manufacturing and planning.
17. The marginal difference in size or specification does
not offer real change in attributes, which may be
termed as variety. Therefore, simplification is needed
in product development.
18. Advantages of Simplification
1. Simplification involves fewer parts, varieties and
changes in products; this reduces manufacturing operations
and risk of obsolescence.
2. Simplification reduces variety. Hence volume of
remaining products may be increased.
3. Simplification provides quick delivery and better after-
sales services.
4. Simplification reduces inventory and thus results in
better inventory control.
5. Simplification lowers the production costs.
6. Simplification reduces price of a product.
7. Simplification improves product quality
19. PURCHASING :
Purchasing is an important function of materials
management. In any industry purchase means buying
of equipment, materials, tools, parts etc. required for
industry. The importance of the purchase function
varies with nature and size of industry. The moment a
buyer places an order he commits a substantial portion
of the finance of the corporation which affects the
working capital and cash flow position. He is a highly
responsible person who meets various salesmen and
thus can be considered to have been contributing to the
public relations efforts of the company. Thus, the buyer
can make or mar the company’s image by his excellent
or poor relations with the vendors.
20. Objectives of Purchasing :
The basic objective of the purchasing function is to ensure
continuity of supply of raw materials, sub-contracted items and
spare parts and to reduce the ultimate cost of the finished
goods. In other words, the objective is not only to procure the
raw materials at the lowest price but to reduce the cost of the
final product.
The objectives of the purchasing department can be outlined as
under:
1. To avail the materials, suppliers and equipments at the
minimum possible costs:
These are the inputs in the manufacturing operations. The
minimization of the input cost increases the productivity and
resultantly the profitability of the operations.
2. To ensure the continuous flow of production through
continuous supply of raw materials, components, tools etc. with
repair and maintenance service.
21. 3. To increase the asset turnover: The investment in the
inventories should be kept minimum in relation to the
volume of sales. This will increase the turnover of the assets
and thus the profitability of the company.
4. To develop an alternative source of supply:
Exploration of alternative sources of supply of materials
increases the bargaining ability of the buyer, minimization
of cost of materials and increases the ability to meet the
emergencies.
5. To establish and maintain the good relations with the
suppliers: Maintenance of good relations with the supplier
helps in evolving a favourable image in the business circles.
Such relations are beneficial to the buyer in terms of
changing the reasonable price, preferential allocation of
material in case of material shortages, etc.
22. 6. To train and develop the personnel: Purchasing department
is manned with varied types of personnel. The company should
try to build the imaginative employee force through training and
development.
7. Efficient record keeping and management reporting: Paper
processing is inherent in the purchase function. Such paper
processing should be standardized so that record keeping can be
facilitated. Periodic reporting to the management about the
purchase activities justifies the independent existence of the
department.
25. The following information is available from the record of the
incoming material department of ABC Co. Ltd.
The factor weightage for quality, delivery and price are 40%,
35% and 25% as per the decision of the mar. Rank the
performance of the vendors on the QDP basis interpret the
result.
VENDER RATING ILLUSTRATIONS
26.
27.
28. What is Inventory
Inventory is stores of good and services
Generally inventory item is called as shop
keeping item that item is Raw material,
finished product, work in process and
supplies.
Shop keeping item is held at point called as
stock point.
Inventory control is activities that maintain
shop keeping item at desired level.
29. Inventory system
Time
Total Time
Period over which demand for Q has
occurred
Q
Inventory position
R
Fig . Q/R inventory system
To establish an Inventory system is to keep count of every item
issued from inventory and place an order for more stock when
inventories reached to a predetermined level i.e. reorder level
31. What is the decision to select EOQ?
There is a tradeoff between holding costs and ordering costs
Order Quantity
(Q*)
Cost
Total cost
Holding costs
Ordering costs
32. Economic Order Quantity - EOQ
Q* =
2SD
H
Example:
Assume a car dealer that faces demand for 5,000 cars per year, and that it costs
$15,000 to have the cars shipped to the dealership. Holding cost is estimated at
$500 per car per year. How many times should the dealer order, and what
should be the order size?
548
500
)000,5)(000,15(2*
Q
34. ROP = LxD
Receive
order
Time
Inventory
Order
Quantity
Q
Place
order
Lead Time
Reorder
Point
(ROP)
If demand is known exactly, place an order when
inventory equals demand during lead time.
D: demand per period
L: Lead time in periods
Q: When shall we order?
A: When inventory = ROP
Q: How much shall we order?
A: Q = EOQ
35. Example (continued)…
What if the lead time to receive cars is 10 days? (when
should you place your order?)
10
365
D =R =
10
365
5000 = 137
So, when the number of cars on the lot reaches 137, order 548
more cars.
Since D is given in years, first convert: 10 days = 10/365yrs
37. XX
Inventory at time of receipt
ReceiveReceive
orderorder
TimeTime
InventoryInventory
LevelLevel
OrderOrder
QuantityQuantity
PlacePlace
orderorder
Lead TimeLead Time
Actual Demand < Expected Demand
ROP
Lead Time Demand
39. To reduce stockouts we add safety stock
ReceiveReceive
orderorder
TimeTime
PlacePlace
orderorder
Lead TimeLead Time
Inventory
Level
ROP =
Safety
Stock +
Expected
LT
Demand
Order Quantity
Q = EOQ
Expected
LT Demand
Safety Stock
40. Inventory cost
Total Cost = Purchasing Cost + Ordering Cost + Inventory Cost
Purchasing Cost = (total units) x (cost per unit)
Ordering Cost = (number of orders) x (cost per order)
Inventory Cost = (average inventory) x (holding cost)
41. Example: An auto parts supplier sells Hardy-brand batteries to car
dealers and auto mechanics. The annual demand is approximately
1,200 batteries. The supplier pays $28 for each battery and estimates
that the annual holding cost is 30 percent of the battery's value. It
costs approximately $20 to place an order (managerial and clerical
costs). The supplier currently orders 100 batteries per month.
a. Determine the ordering, holding, and total inventory
costs for the current order quantity.
b. Determine the economic order quantity (EOQ).
c. How many orders will be placed per year using the
EOQ?
d. Determine the ordering, holding, and total inventory costs for
the EOQ. How has ordering cost changed? Holding cost? Total
inventory cost?
42. Solution:
annual demand: D = 1200 batteries per year
item cost: c = $28 per battery
holding cost: H = ic = 0:30(28) = $8:40 per battery per year
order cost: S = $20 per order
current order quantity: Q = 100 batteries
44. Supply Chain
All facilities, functions, and activities associated
with flow and transformation of goods and
services from raw materials to customer, as well
as the associated information flows
It is an integrated group of processes to “source,”
“make,” and “deliver” products
46. Supply Chain Management - Introduction
Supply chain management deals with linking the organizations
within the supply chain in order to meet demand across the
chain as efficiently as possible
Why is supply chain management so important?
To gain efficiencies from procurement, distribution and logistics
To reduce transportation costs of inventories
To meet competitive pressures from shorter development times, more
new products, and demand for more customization
To meet the challenge of globalization and longer supply chains
To manage the complexities of supply chains
To manage the inventories needed across the supply chain
49. Supply Chain Management - Introduction
Strategic, tactical and operating issues
Strategic - long term and dealing with supply chain design
Determining the number, location and capacity of facilities
Make or buy decisions
Forming strategic alliances
Tactical - intermediate term
Determining inventory levels
Quality-related decisions
Logistics decisions
Operating - near term
Production planning and control decisions
Goods and service delivery scheduling
Some make or buy decisions
50. Case study
Whirlpool company is related to the household appliances facing
problem of inventory quantities were it is either low or high. In every
way, supply chain fail to meet the expectations
In study it is found that the availability rate of product at right place at
the Right time was 83% in 2000
At that time company facing competitive Disadvantage
To remedy these extensive problems, the Whirlpool supply chain
management and IT teams took on the massive task of replacing their
myriad production scheduling and distribution systems with a
streamlined, standardized solution. The new system had a central
platform for master scheduling, inventory planning and deployment
planning, plus collaborative tools for forecasting and replenishment.
Whirlpool was able to reduce forecasting errors by 50% and inventories
of finished appliances by more than 20%, while saving 5% on
warehouse and transportation costs. Furthermore, its overall availability
rate rose from 83% to 93%, and reached 97% within five years of
implementation.